Dow plunges 473 points - biggest drop since January -- after soaring jobs report

The fall began Monday after a tweet from President Trump about imposing sweeping new tariffs on China.
0:54 | 05/08/19

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Transcript for Dow plunges 473 points - biggest drop since January -- after soaring jobs report
Back here at home this evening and to the major headline on the economy tonight, after that soaring jobs report late last week. Tonight, something different now driving the market down. In fact, the Dow plunged 473 points today. Its biggest drop since January. The fall comes after a tweet from the president, new threats against China tonight. ABC's Eva pilgrim live at the New York stock exchange. 'Have a, what's behind it? Reporter: David, the uncertainty of what's to come causing serious jimmjitters on wall Street. The president's threat to drastically increase tariffs on Chinese goods putting pressure on trade negotiations. The clock is ticking. Those new tariffs set to go into effect Friday. Experts say the fallout of a trade war could be huge with consumers feeling the brunt of it. Now, China's top economic adviser is expected in Washington Thursday and Friday. But for now, all eyes watching and waiting to see if these two sides can come to an agreement. David? All right, Eva pilgrim in lower Manhattan tonight. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

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